Short Interest in BrainsWay Ltd. (NASDAQ:BWAY) Declines By 18.6%

BrainsWay Ltd. (NASDAQ:BWAY) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 37,600 shares, a decline of 18.6% from the October 15th total of 46,200 shares. Based on an average daily volume of 95,600 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On BrainsWay

Several hedge funds and other institutional investors have recently bought and sold shares of BWAY. Acadian Asset Management LLC lifted its stake in BrainsWay by 583.2% in the 1st quarter. Acadian Asset Management LLC now owns 175,416 shares of the company’s stock valued at $923,000 after purchasing an additional 149,740 shares during the last quarter. Good Life Advisors LLC grew its position in BrainsWay by 65.5% during the 3rd quarter. Good Life Advisors LLC now owns 55,800 shares of the company’s stock worth $516,000 after acquiring an additional 22,080 shares during the last quarter. Perritt Capital Management Inc bought a new position in BrainsWay in the second quarter valued at about $121,000. Virtu Financial LLC bought a new stake in shares of BrainsWay during the first quarter worth about $60,000. Finally, Rhumbline Advisers increased its stake in shares of BrainsWay by 10.3% in the second quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock valued at $110,000 after buying an additional 1,695 shares during the period. 30.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BWAY has been the subject of several research reports. Northland Securities boosted their price target on BrainsWay from $11.00 to $12.50 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of BrainsWay in a report on Monday, October 21st.

BrainsWay Trading Down 4.3 %

Shares of BWAY traded down $0.41 during trading hours on Friday, reaching $9.12. The company had a trading volume of 41,232 shares, compared to its average volume of 95,706. The firm has a 50 day simple moving average of $9.23 and a 200-day simple moving average of $7.46. The company has a market capitalization of $152.12 million, a price-to-earnings ratio of 91.21 and a beta of 1.25. BrainsWay has a 12-month low of $4.30 and a 12-month high of $10.98.

BrainsWay (NASDAQ:BWAY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The company had revenue of $10.50 million for the quarter, compared to analyst estimates of $10.07 million. BrainsWay had a net margin of 3.88% and a return on equity of 3.52%. During the same quarter last year, the business earned ($0.01) EPS. Sell-side analysts forecast that BrainsWay will post 0.05 earnings per share for the current year.

About BrainsWay

BrainsWay Ltd. develops and sells noninvasive neurostimulation treatments for mental health disorders in the United States and internationally. It offers Deep Transcranial Magnetic Stimulation platform technology for the treatment of major depressive disorders, anxious depression, obsessive-compulsive disorders, smoking addiction, bipolar disorders, post traumatic stress disorders, schizophrenia, Alzheimer's disease, autism, chronic pain, multiple sclerosis, post stroke rehabilitation, and Parkinson's diseases.